SHFE Aluminum to Trade in Narrow Range (2017-9-27)  

[SMM Aluminum Alloy Daily Review] Futures side, the most-traded aluminum alloy 2606 contract opened at 24,140 yuan/mt today, rose to a high of 24,245 yuan/mt during the session before weakening, hitting a low of 23,935 yuan/mt, and finally closed at 24,040 yuan/mt, down 115 yuan/mt from the previous close, a decline of 0.48%. Spot side, ADC12 market prices remained largely stable today. The upward momentum in primary aluminum prices slowed, weakening cost-side drivers. Meanwhile, downstream demand remained persistently weak, with purchases mainly driven by rigid demand. Against the backdrop of ample low-priced supply and intensifying price competition, enterprises generally lacked the motivation to raise their quoted prices. However, purchase activities by futures-spot traders provided som